If some one have long term capital gain in shares and in same year he have also shortm term capital loss then he can setoff or not
Long term cg is less then 1 lakh rupees
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capital gain in share
Replies (3)
yes it is allowed to set off St capital loss against Ltcg
Short term capital loss can be setoff against long term capital gain
LTCG is exempt by default upto 1 lakh under 112A and hence your taxable LTCG will be Nil.
So Short term capital loss you will have to carry forward .
So Short term capital loss you will have to carry forward .
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